I agree 100%! No matter what price oil companies decide to sell their product, people buy it anyways. We have a responsibility in this too, no doubt about that. What I hope is that if that situation lasts, it will drive people to change their habits, and help the research for alternative energies.

This being said, there is a risk that the transition will be very hard on some industries. It's probably not a bad idea to provide some kind of help, to keep some jobs going.

I agree as well, unless you live in a rural place and don't have decent public transit. Sometimes you have to drive whether you want to or not. Profit is one thing, obscene profit is quite another. Those truckers deserve a break...

Yes, but the second thing you learn, is that you maximize profits by charging whatever the market will bear. Until people as whole unified populace stop buying fuel at these prices, the fuel companies will have no reason to ever bring the price down.
People refusing to change their habits for the reason of convenience is what is driving gas prices.

You're right, of course. It just struck me as humorous that oil companies were defending their profits by saying they had to import oil, and their profits wouldn't be so high if they could pump more domestic oil. Um, no, your PRICES wouldn't be so high if you could pump more domestic oil, but I am pretty sure your profit margins wouldn't drop a percentage point.

Interestingly, the reported on the news the other night that for the first time EVER people are driving less due to the cost of gas. The price of gas hasn't ever affected it before...usually people just complain and keep driving, but there is a noticeable difference for the first time ever.

Two Economic laws you forgot about...supply/demand..the supply of oil is limited and the ability to refine it is contrained..at the same time the demand in countries like India and China is growing like wildfire..we need to drill for our own oil..in Alaska, the Gulf of Mexico
and build more refineries.....the only thing that would bring the price down is if the supply of oil is increased, or the demand becomes lower...
Competition also keeps a lid on prices... if you don't like the price one place go to another...
Reality... this world runs on fossil fuels.. it is the engine of prosperity..
If you like European style socialism, keep in mind that their gas prices have always been well above ours..
The price of oil is not set by the oil companies.. Crude oil trades
on commodity markets..
Companies are in business to make profits.. that is not a bad thing, unless you don't believe in capitalism...